01868cas a2200265 a 4500 AALejournalIMF002272 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451844542 1018-5941 BD-DhAAL BD-DhAAL Kose, Ayhan. How Does Globalization Affect the Synchronization of Business Cycles? / Ayhan Kose, Eswar Prasad, Marco Terrones. Washington, D.C. : International Monetary Fund, 2003. 1 online resource (14 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper examines the impact of rising trade and financial integration on international business cycle comovement among a large group of industrial and developing countries. The results provide at best limited support for the conventional wisdom that globalization has increased the degree of synchronization of business cycles. The evidence that trade and financial integration enhance global spillovers of macroeconomic fluctuations is stronger for industrial countries. One striking result is that, on average, cross-country consumption correlations have not increased in the 1990s, precisely when financial integration would have been expected to result in better risk-sharing opportunities, especially for developing countries. Mode of access: Internet Prasad, Eswar. Terrones, Marco. IMF Working Papers; Working Paper ; No. 2003/027 Full text available on IMF http://elibrary.imf.org/view/journals/001/2003/027/001.2003.issue-027-en.xml IMF e-Library